No a good news at least for now, for the Bitcoin's traders.
After a month of increasing difficulties for Bitcoin mining, the first adjustment in September saw the difficulty drop, although it still remains at the second highest level in the history of the network.
The recent high was reached only in conjunction with the latest adjustment, at the end of August, thanks to a 3.6% rise.
Bitcoin's price has also dropped over the past week from the $ 12,000 it had reached again earlier this month. Keeping the $ 11,000 level for just a couple of days, then fell below it on 3 September, followed by a sharp decline and even a short fall below $ 10,000 two days later!
Now it is trading at $ 9,926. It dropped 3% in one day and 15% in one week!
This is due to the fact that miners have downloaded far more bitcoins than they mined.
After a month of increasing difficulties for Bitcoin mining, the first adjustment in September saw the difficulty drop, although it still remains at the second highest level in the history of the network.
The recent high was reached only in conjunction with the latest adjustment, at the end of August, thanks to a 3.6% rise.
Bitcoin's price has also dropped over the past week from the $ 12,000 it had reached again earlier this month. Keeping the $ 11,000 level for just a couple of days, then fell below it on 3 September, followed by a sharp decline and even a short fall below $ 10,000 two days later!
Now it is trading at $ 9,926. It dropped 3% in one day and 15% in one week!
This is due to the fact that miners have downloaded far more bitcoins than they mined.